XML 10 R4.htm IDEA: XBRL DOCUMENT v3.24.0.1
Consolidated Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Investment Income:        
Total interest income $ 5,154,139 $ 6,260,515 $ 10,619,427 $ 11,849,016
Total payment-in-kind interest income 605,399 35,376 705,580 217,114
Total dividend income 0 101,755 0 101,755
Total payment-in-kind dividend income 194,182 171,693 382,433 338,142
Total other fee income 289,468 210,578 433,454 572,428
Total investment income 6,243,188 6,779,917 12,140,894 13,078,455
Expenses:        
Interest expense 2,259,936 2,160,336 4,475,119 3,952,344
Base management fees 980,260 1,057,104 1,959,179 2,161,085
Income-based incentive fees (72,942) 0 (72,942) (147,145)
Provision for tax expense 109,497 65,858 210,244 110,188
Professional fees 398,981 271,782 626,388 543,563
Allocation of administrative costs from Adviser 629,045 375,900 892,420 751,800
Amortization of deferred debt issuance costs 97,961 173,334 271,294 346,667
Amortization of original issue discount - 2026 Notes 17,778 17,778 35,555 35,555
Insurance expense 112,984 137,820 225,968 275,641
Directors' fees 72,875 75,625 146,250 151,250
Custodian and administrator fees 77,569 71,828 146,861 143,516
Other expenses 91,550 136,334 215,827 275,815
Total expenses 4,775,494 4,543,699 9,132,163 8,600,279
Waiver of base management fees (108,265) (112,481) (194,895) (206,627)
Waiver of income-based incentive fees 0 0 0 0
Net expenses 4,667,229 4,431,218 8,937,268 8,393,652
Net Investment Income 1,575,959 2,348,699 3,203,626 4,684,803
Net realized gain (loss) from investments        
Net realized gain (loss) from investments (5,871,039) 0 (5,871,039) 0
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments 1,427,378 (1,731,840) (1,884,651) (2,410,437)
Total realized gain (loss) and change in unrealized appreciation (depreciation) on investments (4,443,661) (1,731,840) (7,755,690) (2,410,437)
Net increase (decrease) in net assets resulting from operations $ (2,867,702) $ 616,859 $ (4,552,064) $ 2,274,366
Net investment income per share - basic $ 0.11 $ 0.16 $ 0.22 $ 0.33
Net investment income per share - diluted 0.11 0.16 0.22 0.33
Earnings per share - basic (0.2) 0.04 (0.32) 0.16
Earnings per share - diluted $ (0.2) $ 0.04 $ (0.32) $ 0.16
Weighted average shares of common stock outstanding - basic 14,394,081 14,388,242 14,393,398 14,387,526
Weighted average shares of common stock outstanding - diluted 14,394,081 14,388,242 14,393,398 14,387,526
Distributions paid per common share $ 0.15 $ 0.15 $ 0.3 $ 0.3
Non-Controlled, Non-Affiliated Investments        
Investment Income:        
Total interest income $ 5,153,599 $ 6,260,515 $ 10,618,887 $ 11,869,627
Total payment-in-kind interest income 586,119 17,933 667,500 182,667
Total dividend income 0 101,755 0 101,755
Total payment-in-kind dividend income 194,182 171,693 382,433 338,142
Total other fee income 289,468 210,578 433,454 572,428
Net realized gain (loss) from investments        
Net realized gain (loss) from investments (5,871,039) 0 (5,871,039) 0
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments 1,654,277 (1,649,361) (513,221) (2,113,636)
Affiliate Investments        
Investment Income:        
Total interest income 540 0 540 (20,611)
Total payment-in-kind interest income 19,280 17,443 38,080 34,447
Total dividend income 0 0 0 0
Total payment-in-kind dividend income 0 0 0 0
Total other fee income 0 0 0 0
Net realized gain (loss) from investments        
Net realized gain (loss) from investments 0 0 0 0
Net change in unrealized appreciation (depreciation) in value of investments        
Net change in unrealized appreciation (depreciation) on investments $ (226,899) $ (82,479) $ (1,371,430) $ (296,801)